Perhaps I might go first, and maybe my colleague, who's been involved in the negotiations of these, will come to my assistance.
I think the first requirement when you are negotiating FTAs is to find a willing partner. That's not a given. There are not all that many countries around the world interested in FTAs, so when you find a valid partner, pursue it.
In Australia, we have negotiated FTAs successfully now. Obviously we have a bedrock one with New Zealand, which is in a class of its own. But we have FTAs with Singapore, with Thailand, and with the United States, vastly different countries. We now have FTAs under negotiation with China, with the Gulf Cooperation Council, and possibly shortly with Japan.
In the case of very big economies, obviously the opportunities offered are considerable, particularly where there are barriers to be reduced. Often the barriers to be reduced are asymmetrical in that, for example, with Singapore, not a country that exports much in the way of agriculture, but it did have a lot of interest for us in services. So we were interested in an asymmetrical series of openings of our markets with Singapore on that basis. Similarly, in the case of China, its interest in Australia is probably more on the commodities side, and our interest there is very much as well on the services side. So we need to maintain action on both things.
Say we were to open negotiations with Chile, one of the countries we are considering at the moment. There is not a great volume of trade, but there are lots of opportunities. We're considering an agreement with Brunei, again a very limited content of trade, but when you look at the opportunities that are opened in various sectors, it becomes something that is quite possible.
Essentially, I think, rather than try to draw up a strategic list, we've reacted and sought out partners who we feel have governments that are interested in pursuing FTAs. I think it's political will that is the most important issue, because sometimes the industries concerned are enthusiastic about this and sometimes less so. What does have to be done, though, once you have negotiated an FTA, as our colleague from Switzerland was saying earlier, is to assist and direct your industry to the benefits and to take advantage of it.